CBN Deepening NFIS Via E-Channel Transactions
Three months after the Central Bank of Nigeria (CBN) lowered its hammer on Bureau de Change operators over alleged infractions,…
Category: Business
Customs’ Move To Impound Private Jets
LAST week, the Nigeria Customs Service (NCS) threatened to impound 29 private jets on which the owners had not paid…
Oil Rises Modestly As U.S. Crude Stockpiles Dwindle
Oil prices edged higher on Wednesday, rebounding from early losses after U.S. crude stockpiles unexpectedly fell and inventories at the…
AFDB, ADFl, And Y’ello Digital Financial Services Agreed On $500,000 Grant For Women
The African Development Bank initiative, the Africa Digital Financial Inclusion Facility (ADFI), and Y’ello Digital Financial Services (YDFS), the fintech…
China’s Yuan ouches Firmest Point Since June After Strong Fixing
China’s yuan briefly rose to its highest point against the U.S. dollar in more than four-and-a-half months on Wednesday after…
FX Turnover On FMDQ Drops By 28.4% On Reduced CBN Interventions, Foreign Portfolio Investment
Following reduced interventions by the Central Bank of Nigeria (CBN) and a decline in foreign portfolio investment (FPI) net flows,…
NIgerian Railway Corporation Resumes Cargo Movement From Lagos To Kano, Kaduna Dry Port
The Nigerian Railway Corporation (NRC), has resumed movement of cargoes in containers to Kano and Kaduna Inland Dry Port. Ismail…
Dollar Drops As Rate-Hike Bets Profilerate Elsewhere, Yuan Hits 4-Mth Peak
The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets, while…
Enhancing Credit Recovery Mechanism To Save Economy
James Emejo writes that just as lack of access to credit could hamper business and retard economic growth, inability/refusal to…
Sterling Hits One-Month High Vs Dollar As UK Rate Hike Anticipation Builds
Sterling hit a four-week high against the dollar on Tuesday as expectations mount the Bank of England (BoE) will hike…
Bitcoin Hit $64,241 After ETF Listing
The price of Bitcoin surged, near the all-time high after ProShares Bitcoin Strategy ETF, the first bitcoin-linked exchange-traded fund (ETF)…
Dollar Sale Ban To BDCs Shows Up In Rising Cost Of Cooking Jollof Rice
The average cost of cooking a pot of Jollof rice for a family of five has increased to N8,000.50 from…
Nigerians Lose Over N22bn To Imagine Lenders, As Owners Skip Town
Not less than N22 billion in investments seem to have gone down the drain as owners of Imagine Global Solutions,…
E-Commerce “Sendbox” Raise $1.8 Million
An e-commerce fulfillment company for small merchants, Sendbox, has raised $1.8m to help small merchants fulfill their e-commerce orders. According…
DPR, PPPRA, PEF Get Scrapped By Federal Government Of Nigeria
The Department of Petroleum Resources, the Petroleum Products Pricing Regulatory Agency and the Petroleum Equalisation Fund are all officially scrapped…
Crypto Fraud Costs More Than $200 Million This Year, U.K. Police Say
Fraud linked to cryptocurrencies surged in the first nine months of the year, U.K. Police said, with victims cheated out…
Oil Prices Could Be Higher For Much Longer Says Goldman Sachs
Oil prices could stay at higher levels in the years to come as demand rebounds while supply remains tight, according…
Circulation Currency Rises To N2.84tn, Says CBN
The currency in circulation rose by N58.36bn to N2.84tn in September from N2.79tn in August, the latest figures obtained from…
Oil Continues Gain After Eighth Weekly Advance On Energy Crisis
Oil advanced at the open of trading in Asia after an eighth weekly gain with the market facing a global…
Operating Licences Canceled By FG For 2 Oil Firms Over Unfair Labour Practices, Other Infractions
The Federal Government, through the Department of Petroleum Resources, DPR, the regulatory agency in the Nigeria Oil and Gas Industry, …
Federal Government Raises PPPRA, CBN, Others’ Revenue Targets By N754.31bn
The Federal Government has reviewed upwards the independent revenue projection for Ministries, Departments and Agencies in the 2022 fiscal period…
Facebook To Create 10,000 Jobs In European Union Over The Next Five Years
Facebook plans to create 10,000 jobs in the European Union over the next five years in a push to build…
OPPO Launches New IOS
OPPO, a Chinese consumer electronics and mobile communications company, has launched a global version of its ColorOS 12. According to…
Nigerian Exchange Group List Its Issued And Fully Paid Share
Nigerian Exchange Group Plc has listed its entire issued and fully paid 1,964,115,918 ordinary shares of 50 kobo each at…
Bitcoin Tops $60,000, Nears Record High, On Growing U.S. ETF Hopes
Bitcoin hit $60,000 for the first time in six months on Friday, nearing its record high, as traders grew confident…
Powell Still Favorite For Fed Reinstatement But Investors Examine Alternatives
Jerome Powell may still be the clear favorite to get renominated as Federal Reserve Chairman, but some investors are considering…
Flutterwave Set To Triple Last Valuation
Flutterwave Inc., a Nigerian payments firm, is seeking fresh funding at a valuation of $3 billion or more, a figure…
ABCON Seeks Measures To Curb Naira Depreciation
The Association of Bureaux De Change Operators of Nigeria (ABCON) has advocated measures to curb the continued depreciation of the…